Over the last year, the Twin Cities housing market was extremely compressed and VERY competitive for buyers...often leading them to waive an inspection to give them an upper edge. The market has began to balance since then and I am happy to share that inspections are BACK.
There are numerous inspections that buyers can choose from and this video will share the top 5 inspections that I recommend, so that you dont run into major expensive fixes after you sign the dotted line.
Most commonly known is the General Inspection of a home. This inspection typically takes around 2 hours and the inspector will complete an all-encompassing report. They will test the appliances, visually inspect the roof, test outlets, etc. They normally cost around $600 but can vary depending on the square footage of a home. However, in some cases you will want separate, more specialized inspections.
#1: Radon inspection
Radon is a colorless, tasteless, odorless natural gas that is linked to illnesses such as cancer. It is frequently found in the soil and basements in the state of MN. Inspectors are able to test for radon and may recommend a radon mitigation system to be installed if the reading is 4.0 or higher. A radon mitigation system will run you at $1,500-$2,000.
#2: Mold Inspection
The next inspection that buyers can have completed is a Mold inspection. Mold is a naturally growing substance that can basically be found anywhere. But buyers should be cautious of black mold, which can make a greater impact on your lungs. Mold inspections do vary greatly in cost, depending on the size of the home and the location of possible mold.
#3: Foundation inspection
Basements are very popular in Minnesota due to our frost point, so you will see an increase in potential issues in block foundations. Stair stepping cracks and gapping are easy to spot signs that I would call in the help of a certified professional. Foundation fixes can get as expensive as $50,000.
#4: tree inspections
A less common inspection, but one of the top ones I flag with my buyers are tree inspections. Trees add a ton of value to a home and can help lower utility bills by providing wind breaking and shade coverage, but they can be VERY expensive to have removed if they are dead or diseased. Depending on the size of the tree, removals can get as expensive as $15,000. That is almost the same cost as a full roof replacement.
#5: sewer line inspections
Finally the most important beyond the general inspection is a Sewer Line inspection. Did you know that if your home is connected to the city sewer line that you are responsible for the sewer piping that runs from your home to the city connection? If a tree root has grown through the piping or the piping has started to break a sewer line fix can cost up to $40,000. This inspection typically will cost between $100-$300.
**Keep in mind that inspections are non-refundable and the duty of the buyer. Even if you find major issues with the home and choose to cancel the contract, you dont get the fee for the inspection back.**
Now you can prepare for any major expensive repairs that may come with purchasing a home by conducting specialized inspections.
In my next video I will be chatting about what buyers can ask sellers to repair AFTER inspection.